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Murphy Oil

(MUR) - Get Murphy Oil Corporation Report

said Tuesday that oil has been found at the Thunder Bird prospect located in the Mississippi Canyon area of the Gulf of Mexico.

The development options for the discovery haven't been completed, but the oil will likely be produced as a subsea tie-back to a facility nearby.

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Murphy, El Dorado, Ark., owns a 37.5% working interest in the field and serves as its operator. A unit of

Dominion Resources

(D) - Get Dominion Energy Inc. Report

owns 25%, Hydro Gulf of Mexico holds 25%, and a division of Marubeni the remaining 12.5%.